Vail Resorts reports ski season-to-date visits down 7.8% y-o-y

Vail Resorts reported certain ski season metrics for the comparative periods from the beginning of the ski season through April 14, 2024, and for the prior year period through April 16, 2023. The reported ski season metrics are for the company’s North American destination mountain resorts and regional ski areas, excluding the results of the Australian ski areas and Andermatt-Sedrun in both periods. Season-to-date total skier visits were down 7.8% compared to the prior year season-to-date period. Season-to-date total lift ticket revenue was up 3.2% compared to the prior year season-to-date period. Season-to-date ski school revenue was up 7.0% and dining revenue was up 2.4% compared to the prior year season-to-date period. Retail/rental revenue for North American resort and ski area store locations was down 7.1% compared to the prior year season-to-date period. CEO Kirsten Lynch said, “Given the unfavorable conditions across our North American resorts for a large portion of the season, we are pleased with our overall results as the 2023/2024 North American ski season nears completion…While visitation declined, our lift revenue increased driven by the growth in pass sales committed ahead of the season, and our ancillary businesses performed well, with particularly strong growth in spending per visit in our ski and ride school, dining, and rental businesses compared to the same period in the prior year. While late season results improved, we now expect to finish the year at or around the low end of our Resort Reported EBITDA guidance range issued on March 11, 2024, primarily driven by Whistler Blackcomb performance in the March and April period…Turning to the 2024/2025 season, to date, through the April deadline, we have seen a modest decline in pass product units and growth in sales dollars…”